In-Depth Analysis
Zimbabwe
External factors have continued to place added pressure on an already strained economy. Zimbabwe once again faces a period of extreme macroeconomic instability as political fragilities have seen the economy come undone again. Inflation is running rampant, the local currency struggles to gain traction, and nearly the entire country is out of formal employment.
Zimbabwe’s vaccination drive has fared surprisingly well, and the country finds itself among the leaders in the race to herd immunity in Africa. The economy is benefiting from the current commodity price windfall, amid robust demand for Zimbabwean mineral exports. However, prolonged power outages are denying the primary sector from operating at full capacity, and real GDP is expected to suffer as a consequence. Moreover, Zimbabweans have been unnerved by the local currency’s recent depreciation and are increasingly resorting to US dollar hoarding. (Source: Zimbabwe Annual Country Profile, published October 2021)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
2.3 |
|
Consumer Price Index (% change y-o-y, avg) |
557.2 |
|
Current Account Balance (as a % of GDP) |
0.1 |
|
Real GDP (annual % change) |
-6.0 |
|
GDP per Capita, US$ |
1,242.0 |
|
Import Cover (months) |
0.06 |
|
Population, million |
14.9 |
| Total External Debt (as a % of GDP) |
93.8 |